Many brands have been suffering a loss due to competetitors, sales decreasing, or other brands acquiring them. Earlier this year, we shared with you guys that Coach was set to buy Kate Spade. Next up on the list is Michael Kors who has reportedly acquired Jimmy Choo for $1.2 Billion. With the new acquisition, the brand is expected to open new retail stores which will lead the brands to expanding their e-commerce presence.

“Acquiring Jimmy Choo is the beginning of a strategy that we have for building a luxury group that really is focused on international fashion brands,” John D. Idol, chairman and chief executive of Michael Kors, said in an interview. “We believe that Jimmy Choo is poised for meaningful growth in the future. We are committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years.”